France launches export loans

French government announces programme to boost exports from French SMEs in the health and cosmetics sector

The French government has announced Export+ Santé Cosmétique, a programme to boost exports from French SMEs in the health and cosmetics sector.

Between now and 2017, it will dole out loans to the tune of €4.4m to around 50 companies. The objective is to boost sales in Brazil, China, the US, India and Russia by around u100m. The firms will be chosen according to their market potential. The announcement was made by Fleur Pellerin, Secretary of State for Exterior Commerce and the Promotion of Tourism and the French Overseas, jointly with France’s international business development agency, Ubifrance.

The five countries listed are those that carry the greatest number of French goods, according to a press release from Ubifrance. The firms will not have to pay back the loans until they are making double the amount loaned in the new markets.

The government has not yet given details of how the €100m extra profit is to be achieved, but said the loans would enable three out of four SMEs to “fully realise their business potential”. It added that 95% of the companies involved in the heath and cosmetics sector are SMEs.

Patricia Mansfield-Devine, Rennes